Purpose – In environmental policy first mover advantages for environmental technologies are often taken for granted. It is a popular view to see the state as a political entrepreneur who introduces a certain environmental policy instrument and thus becomes the world market leader or the lead...

It is frequently hypothesized that environmental management systems (EMSs) may improve firms' environmental innovation performance. Whether this hypothesis is true is as critical for environmental policy as questions pertaining to the relevant incentives for (1) a firm's voluntary adoption of an...

Empirical analyses of eco-innovation determinants have rarely been able to distinguish between different areas of environmental impact. The present paper tries to close this gap by employing a new and unique dataset based on the German Community Innovation Survey, conducted in 2009. The main...

In the discussion on innovations for sustainable development, radical innovations are frequently called for in order to transform society into a system perceived as sustainable successfully. The reason for this is the greater environmental efficiency of these innovations. This hypothesis is,...

This paper examines the effect of sustainability performance of European corporations on their stock performance, measured as the average monthly stock return from 1996 to 2001. The econometric analysis is based on common empirical asset pricing models, particularly on the multifactor model...